The former Tory chancellor, who spearheaded the Government’s “project fear” warnings about the possible consequences of leaving the EU, recalled sensing voter backlash against Brussels during the referendum campaign.
He also claimed the Brexit vote should not mean the UK leaving the single market or introducing new curbs on EU migration.
Mr Osborne, who is now editor of the London Evening Standard newspaper, reflected on the failed Remain campaign that he ran with former prime minister David Cameron during an interview on the BBC Radio 4 Today programme.
He said he had tried to persuade Mr Cameron not to go ahead with the referendum and that he had always been “gloomy” about the likely result.
“I was not keen on having a referendum in the first place but I chose to be part of the collective decision-making of the Government,” he said.
Mr Osborne acknowledged his strong support for Remain meant he was a divisive figure within the Conservative Party, but said he had not ruled out a return to politics in the future.